I have a bearish bias on Bund, since it has hit monthly supply above.
On the daily, we have a new supply zone in purple with good confluence of a HVN. On the H4, a nice channel return to the daily supply zone.
If price goes above 167.595, I am wrong on this trade.
Ahead of the ECB decision the German 10yr bund is at an inflection point with the 166.66 breakout point and channel support being tested. This goes without saying, a break below is bearish, but a pivot from here keeps the bullish momentum alive. RSI was divergent and signaled the turn two weeks ago, but with daily RSI back to mid range, it could go either way now.
TP1 161.9 (1:~2)
TP2 161.6 (1:~2.5/3)
Optional TP3 ~161.2 (1:~3.5/4)
4/12/18 price action has extended well past its upper true range value and touched overhead resistance + upper weekly true range. Short from here and aim for minimum 1:2 RR. Move SL down to initial position when TP1 hit, then aim for just before next support @ 161.515. If you want to...
DE10YBEUR long. The BUND exchange rate assuming a rising triple wave structure. The exchange rate started the second rising stage of this wave structure. Correction of which can start at a W1ATR axis. The third rising stage that started after the correction target price is 169.89
Clearly looking bullish, interested to see how this ends at the end of the month.
Entry - Current price when market opens
Take Profit - 165.625
Stop Loss - 157.017
I am not a fortune teller so take these predictions as pure entertainment. Trading has great risks so trade responsibly.
Virtually all .gov bond markets are bearish. Recent recoveries are nothing more than regular counter trend moves within clear down trends and we expect the recoveries to peter out quite soon. We are preparing a new short-setup for the Bund with the following parameters:
time frame: 420-minute+
short-entry trigger @ 159.70
SL @ 160.75
Target @ 155 (possibly to be...
Bund is back on major support at 159.26 (Fibonacci retracement, horizontal overlap support) and a potential bounce could occur at this level to push price up to at least 160.65 resistance (Fibonacci retracement, horizontal pullback resistance).
RSI (34) is also making a nice pullback to previous resistance-turned-support line.
Trading CFDs on margin carries high...